Chairman of Reliance Industries, Mukesh Ambani, $9.98 billion in his net worth that leads a group of Indian billionaires who have added to their net worth in 2023.
With a total wealth of $97.1 billion, Ambani is the richest Indian and the 13th richest person globally. His wealth, which primarily comes from Reliance Industries and Jio Financial Services, increased due to a 9% gain in RIL stock and the listing of Jio Financial stock after a demerger.
Followed by Ambani is Shiv Nadar, the founder of HCL Tech adding $9.47 billion to his wealth this year, reaching $34 billion.
Despite a struggling year for the IT sector, HCL Tech’s shares zoomed 41% this year.
Former Chairperson of OP Jindal Group, Savitri Jindal, came in third by adding $8.93 billion. She sources her wealth from group companies such as Jindal Steel, Jindal Steel and Power, Jindal Energy. She is also the richest Indian woman with a total net worth of $24.7 billion.
Kushal Pal Singh, who derives his wealth from real estate giant DLF, saw an increase of $7.83 billion in 2023 due to a 91 percent rise in DLF’s share price. The real estate industry had a prosperous year with record pre-sales and numerous new launches. Singh’s net worth now stands at $16.1 billion.
Owner of Shapoorji Pallonji Group, Shapoor Mistry, which has been in existence for 158 years, added $7.41 billion to his fortune this year. His net worth is now $35.2 billion.
According to the Bloomberg data, Kumar Mangalam Birla from Aditya Birla Group added $7.09 billion, Ravi Jaipuria from Varun Beverages ($5.91 billion), Dilip Shanghvi from Sun Pharma ($5.26 billion), Mangal Prabhat Lodha from Lodha Group ($3.91 billion), and Sunil Mittal from Airtel ($3.62 billion).
On contrary to this, Gautam Adani suffered the most significant global wealth loss in 2023, losing $37.3 billion due to the sharp sale of shares in several of his companies. Adani’s total net worth is now $83.2 billion.
Shares of many Adani Group companies that saw selling earlier in the year are yet to recover.